Mav,
Last 2 posts I have read from you have more wisdom than the rest of this thread combined. I could not agree with you more.
Wolf
Cooltraderdude's TopstepTrader Combine (daily trade report and journal)
- Thread starter TST_Hoag
- Start date
Mav,
Last 2 posts I have read from you have more wisdom than the rest of this thread combined. I could not agree with you more.
Wolf
3500/50000= 7% ROI in 10 days... Surely most sought after fund managers could pass this without gambling... Because most return that in like a year...
No the goal is to get funded... You guys have more problems than I do if you don't get that. BUT don't worry about me I'm going to be OK!
The point to trading is to make money so you can make a living at it... the point isn't to be the true believer with $3 up in his account glad to be doing the journey...
Like I said... You guys don't get it...
Quote from Soon2Bgreat:
Each strategy though has a commensurate reward for the risk. You get really good by capturing that premium without the normal downside...and then you become the poster boy for Nike and buy the Bobcats.
Two ways you can lose in trading:
1. You can bleed to death from paper cuts (small losses).
2. You can blow your brains out with one big loss.
The risk/reward you set up based on your strategy has nothing to do with the market or your success... How could it...? Market movement decides the payout not you. At least when you go to a bookie and you bet on 3:1 you actually get 3:1 on the payout if you get it right. Not so in trading... you can get everything right and never get the movement.
Quote from CoolTraderDude:
3500/50000= 7% ROI in 10 days... Surely most sought after fund managers could pass this without gambling... Because most return that in like a year...
I have a problem with this statement. Let's say one decides to trade two lots of CL at 100k a contract. That's 200,000 in notional. That's a 1.75% return capadre. Of course one can trade up to 5 contracts, but I'm trying to keep things within reason. Why bring up notional? Because notional return is the world hedge funds live in. Anyway, good luck in your next endeavor.
Sorry but you've completely lost me... I was pointing out that you have to take risks... Big risks to make it because the solid players couldn't do it... The ROI would be too difficult for their trusted safe methods. Despite that they still blow up... Go figure...!
I also don't get your 1.75 % return in notional... at 200000k...?
The way to beat this Combine is to catch some big moves with 1 or 2 contracts in CL which has big volatility.
But can you imagine how bad it's going to look when you hold on the wrong side of that and lose like $ 900 on a single contract...?
Go with a small stop and get stopped on every trade... Go with a big stop and lose big...
That's the problem... CONTRADICTION...! There's no making sense of it because it's not set up to make sense.
Quote from CoolTraderDude:
Sorry but you've completely lost me... I was pointing out that you have to take risks... Big risks to make it because the solid players couldn't do it... The ROI would be too difficult for their trusted safe methods. Despite that they still blow up... Go figure...!
I also don't get your 1.75 % return in notional... at 200000k...?
Let me help you, if you trade 2 lots of CL you are controlling 200k in oil. With me still? So in order to make 3500 in 2 weeks, you need to generate a 1.75% return. If you were trading "50,000" in oil, yes, that return amount would need to be higher. But you are not. You are trading 200,000. That's a lot of oil dude. That's the only way you can do the math. The 50k figure does not exist. It's an arbitrarily number.
You can look at it that way... Most people look at it by the $$$ in their account. Nothing arbitrary about that.
When you've leveraged that "50K" to 200K you need a smaller market movement to make $3500 but you still have to return 7% of 50K... with a $1000 stop loss that kills you...
So in reality you need to return $3500 on $1000 risked... That's 350% in 10 days...
No way of doing it without swinging for the fences or catching some serious luck by being on the right side of a volatile move.BTW...
ROI = gain from investment-cost of investment / cost of investment
Quote from CoolTraderDude:
You can look at it that way... Most people look at it by the $$$ in their account. Nothing arbitrary about that.
When you've leveraged that "50K" to 200K you need a smaller market movement to make $3500 but you still have to return 7% of 50K... with a $1000 stop loss that kills you...
So in reality you need to return $3500 on $1000... That's 350% in 10 days...
Alright whatever. You tried, it didn't work out. I'm not wasting anymore time arguing with you. You are starting to come off as a sore loser although I'm sure that is not your intention. Don't you think it's time to search the web for recruiters now? I mean what are you still doing here? Let's shut this thread down and be done with it. Not trying to be a dick. I give you kudos for stepping up and doing the combine and being fair in your evaluation. Don't over reach man. Just walk away.
Cool Trader Dude--Mav is right
Basically there is more leverage...most fund managers don't trade solely futures...they might have positions and hedging positions but they generally dont go all out in futures.
the back and forth bickering is funny, but starting to get annoying!
Can't you two just agrree to have different opinions? even though most here know Mav is correct. lol
Trading is a ridiculously hard game..doesnt mean you are a loser..
at least you were honest in combine and opionions of it.
on to the next show
Basically there is more leverage...most fund managers don't trade solely futures...they might have positions and hedging positions but they generally dont go all out in futures.
the back and forth bickering is funny, but starting to get annoying!
Can't you two just agrree to have different opinions? even though most here know Mav is correct. lol
Trading is a ridiculously hard game..doesnt mean you are a loser..
at least you were honest in combine and opionions of it.
on to the next show
The "Big One for Big Drop" was $1million, but the "Big Game" is still $10,000.
And, just for fun, I really haven't read all the posts here. But back to your analogy to satellite tournaments, poker players are playing to WIN a spot or make money, Not to "hone their poker skill" as you say about the Combine.
I understand that all poker players, as all serious traders, should use their trading/playing as learning exercises as well, but as hitnrun says, the prize of a shared live account is the reason for paying the money and doing all of this. Simple paper trader can accomplish the same thing, or similar, without the monthly fee. But, the fee is paid in hopes of getting some backing.
And, yes, who knows, if I had 100 people willing to pay money to paper trade a demo account, with the winner getting a live account, I might do it too. Seems simple enough after thinking it through, no downside to us.
Not sure about the legalities of it, I may check.
All the best, Mav....
Don
What I'm trying to point out is that you're brainwashed by the industry to think that Mav is correct... You guys don't get it, you really don't.
You repeat the same stuff ad nauseam that doesn't make sense.
If you lose it's because you lack discipline...! On a game that's rigged for you to lose no less...
You think an edge comes from TA or fundamentals...!
You try to do as the winners despite the fact that they had lucky streaks and nothing more...
Big difference between educators, prop firm owners and actual traders.
As an actual trader you have to make your money from trading...!
Let's not kid ourselves... You guys don't do that. Knock a trader who tells it like it is all you want... But you make your money off of us... not the other way around.